KUWAIT CITY: The Kuwait Direct Investment Promotion Authority (KDIPA) announced the issuance of an investment license for Huawei forming a new Kuwaiti limited liability firm to invest KD 353 million (US 1.68 billion) in the country. Business of the new firm, “Huawei Kuwait”, will support the information and communications technology (ICT) in Kuwait, KDIPA Director General Sheikh Dr Meshaal Jaber Al-Ahmad Al-Sabah.
He added that Huawei would benefit from the advantages and incentives offered by the direct Investment encouraging law. It will focus on providing innovative and integrated solutions, advanced technology and technical services for the communications systems and networks as well as supplies. KDIPA proceeds with offering necessary backing and facilities for attracting and localizing such value-added quantum investments to support the ICT sector in Kuwait as an incentive for sustainable economic growth, besides varying the country’s economic bases in line with Kuwait Vision 2035, Sheikh Dr Meshaal noted.
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